Form 4: Paylocity Holding Corp Director Sells Shares Under 10b5-1 Plan

Steven I. Sarowitz, a director at Paylocity Holding Corp, sold a total of 2,900 shares of common stock under a pre-arranged 10b5-1 trading plan.

Summary

• Steven I. Sarowitz, a director and 10% owner of Paylocity Holding Corp, sold 2,900 shares of common stock on November 29, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 15, 2023.
• The shares were sold in multiple transactions at weighted average prices of $207.12, $208.16, and $208.78.
• Following these transactions, Sarowitz directly owns 9,211,215 shares and indirectly owns 20,000 shares through a trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for insider transactions, which is neither positive nor negative for the company's overall outlook. The sales were pre-planned under a 10b5-1 plan.

Industry Context

This is a routine filing for insider transactions and is common for executives and directors of publicly traded companies. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of insider trading, similar to practices at companies like Workday and ADP.
• The reported transactions are typical for directors and large shareholders, and the volume of shares sold is not unusual for a company of Paylocity's size.
• The weighted average prices are within the expected range for the stock's trading activity on the reported date.

Stakeholder Impact

• The stock sales by a director may have a minor impact on shareholder sentiment, but the pre-planned nature of the transactions mitigates any significant concerns.

Key Dates

Keywords

Paylocity Holding Corp, insider trading, Form 4, 10b5-1 plan, stock sale, Steven I. Sarowitz, director